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MobiKwik’s Consumer Payments COO Mohit Narain steps down

EntrackrEntrackr · 24d ago
MobiKwik’s Consumer Payments COO Mohit Narain steps down
Medial

MobiKwik’s Consumer Payments COO Mohit Narain steps down Digital payments company MobiKwik has announced the resignation of its Chief Operating Officer for Consumer Payments, Mohit Narain, citing health reasons. According to a stock exchange filing, Narain will step down from his role effective from the close of business hours on October 24, 2025. The company said his decision comes after being advised to take rest and focus on recovery. Narain joined MobiKwik in mid-2018 and was elevated to COO for Consumer Payments in February last year to oversee operations across UPI, Wallet, QR, and devices. This is the second high-profile exit from the company in 2025. In January, Chandan Joshi, the co-founder and CEO of the payments division, stepped down. The firm had also announced key leadership promotions earlier this year to strengthen its core operations. In January, Saurabh Dwivedi was promoted to Chief Technology Officer (CTO), while Dhruv Wadhera was elevated to Senior Vice President (SVP), Offline Payments. MobiKwik’s operating revenue fell 21% to Rs 271 crore in Q1 FY26 from Rs 342 crore in Q1 FY25, while the company’s losses rose over 6X to Rs 42 crore in Q1 FY26 compared to the same quarter last year.

Mobikwik losses surge 8X in Q2 FY26

EntrackrEntrackr · 13d ago
Mobikwik losses surge 8X in Q2 FY26
Medial

Fintech platform MobiKwik reported its quarterly results for the second quarter of the ongoing fiscal year (FY26) on Tuesday, with revenue declining 7% year-on-year and losses rising more than 8X. MobiKwik’s revenue from operations decreased by 7% to Rs 270 crore in Q2 FY26 from Rs 291 crore in Q2 FY25, its unaudited financial statements accessed from the National Stock Exchange (NSE) show. Commissions on recharges, processing, and interest on servicing loans, payment gateways, as well as platform fee were the primary revenue sources for MobiKwik in Q2 FY26. On the lines of previous quarterly results, the firm didn't provide an income breakdown in Q2 FY26. For the half yearly basis, the company’s revenue declined 14.5% to Rs 541 crore in H1 FY26 from Rs 633 crore in H1 FY25. For the payments platform, payment gateway costs accounted for the largest expense, making up 47% of the total cost of Rs 134 crore in Q2 FY26. Its employee benefit expenses stood at Rs 35 crore, while lending fees aka commission amounted to Rs 13 crore. MobiKwik’s financial guarantee, legal, advertising-marketing, finance, and other overheads took its total burn to Rs 286 crore in Q2 FY26 which remained flat as compared to Rs 287 crore in Q2 FY25. The Gurugram-based company’s losses spiked 8X to Rs 28.6 crore in Q2 FY26, compared to Rs 3.5 crore in the same quarter last year. For the half year that ended in September 2025, it reported a net loss of Rs 70.5 crore. Mobikwik’s stock price is trading at Rs 255 (as of 11:50 AM) with a total market capitalization of Rs 2,021 crore. Earlier last month, MobiKwik announced the resignation of its Chief Operating Officer for Consumer Payments, Mohit Narain, citing health reasons. MobiKwik had reported that it was hit by Rs 40 crore fraud in Haryana and later clarified that it was due to internal glitch and not any cyberattack.

Unacademy elevates Arooshi Singh as Head of HR

EntrackrEntrackr · 1y ago
Unacademy elevates Arooshi Singh as Head of HR
Medial

Edtech company Unacademy is undergoing several high-level appointments. In the latest development, Arooshi Singh has been promoted from Director of People Experience and Culture to Chief People Officer at the Bengaluru-based firm. “I’m thrilled to share that Arooshi Singh, who has been with us for over seven incredible years, is being promoted to Head of HR,” said Gaurav Munjal, CEO and co-founder of Unacademy, in a Slack message to employees on Monday, as reviewed by Entrackr. Singh will replace Sandhydeep Purri, who was appointed as Chief People Officer of the SoftBank-backed company in November 2023. Arooshi led multiple functions across HR functions at Unacademy. She joined the company as a junior staff member for employee wellness. This marks the third promotion announced by the Munjal-led company in 2024. In January, Jagnoor Singh was elevated to Chief Operating Officer (COO) for Unacademy Centres, and last month, Abhishek Pipara was promoted to Chief Financial Officer (CFO) for the offline business. In the past year, Unacademy has also seen several senior leadership exits, including a co-founder. In August 2023, Chief Operating Officer Vivek Sinha resigned, followed by Group CFO Subramanian Ramachandran in October, and co-founder and CTO Hemesh Singh in June. Last month, Unacademy also disclosed its financial numbers for the fiscal year ending March 2024. While the company’s revenue remained flat for the said fiscal year with Rs 988 crore, it managed to reduce its losses by a whopping 62%.

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